Brazil: Merchandise trade surplus increases in February
Latest reading: In February, the trade balance was USD +4.2 billion, following a USD +3.8 billion figure in the prior month. February’s reading slightly undershot market expectations. Over the last 12 months, the trade balance summed to USD +74.2 billion.
Merchandise exports were up 15.6% in year-on-year terms in February, following a 3.1% fall in the previous month. February’s improvement was driven by strong growth in mining and agriculture shipments. Goods imports fell 4.8% in year-on-year terms in February, coming on the back of a 9.8% drop in the prior month; agriculture and manufacturing posted sharp declines.